Turning your investment property into a vacation rental might seem like an easy way to make a few extra bucks but before you take the plunge it’s worth considering how much of your life will become consumed by your Airbnb.
Waiting to hand the key to guests who are running late. Answering dozens of emails each day from prospective guests. Washing the sheets. Vacuuming the carpets. Arranging for professional cleaners to come to your property. Repairs. Reviews. The list of your duties as an Airbnb host is endless and many hosts upload their property pics before really thinking about the commitment they are making when they list an apartment on Airbnb.
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How many hours?
Depending on the type of vacation rental you are running, you could be looking at spending 2-3 hours a day managing your property and between 5-8 hours on days where you have a change-over of guests. What takes so long, you ask? Here are some things that are likely to eat away the hours in your day…
Guest communication: When it comes to being a good host, Airbnb expects you to answer emails from guests in a timely manner – usually within a few hours but definitely within 24 hours. Depending on your profile settings, you are likely to receive enquiries from travellers with questions about your vacation rental or guests seeking approval for their stay. This often means taking the time to look at their profiles and read their reviews before accepting them. There’s also the communication involved once the booking has been made – like liaising about house rules and check-in times. If you plan on hosting several guests each week, you can see how this communication can become overwhelming.
Cleaning: Even if you decide to hire professional cleaners to save yourself a few hours of dusting and mopping – you will still have to let those cleaners into your vacation rental, give them directions as to what you want done, and manage their invoices/payments. For hosts who prefer to do the cleaning themselves, it’s worth noting that Airbnb guests have high standards when it comes to cleanliness. Doing a below-average job on the vacuuming could mean a bad review from an unimpressed guest.
Check-ins/outs: This might not sound like a very time-consuming part of running an Airbnb business but you have to remember that not all guests arrive when they say they will arrive. Some will call a few times asking for additional directions. Others won’t be able to follow the map that you provide. Check-ins can take up lots of your time.
Managing hiccups: Even the most experienced hosts will be called on by guests in relation to issues that arise during their stay – from broken hot water systems, to lost keys or noisy neighbours. In many ways, you need to be prepared to put your life on hold for your Airbnb. That means leaving a party or missing your child’s performance at school if your guest needs you.
There are ways to make your life easier as an Airbnb host – for example, by automating online communication as much as possible or by adding a co-host to your listing who can share some of the responsibility.
Need help?
At the end of the day, if you want to avoid becoming a slave to your vacation rental ‘to do’ list, it’s worth considering a professional management company like GuestReady who can help with your Airbnb – allowing more hours each day for you to do the things you love. We are available London, Manchester, Edinburgh, to name a few cities.
FAQs
Depending on the type of vacation rental you are running, you could be looking at spending 2-3 hours a day managing your property and between 5-8 hours on days where you have a change-over of guests. What takes so long, you ask? Here are some things that are likely to eat away the hours in your day…
How hard is it to manage your own Airbnb? ›
Con: Time Consuming. While it's nice to have met guests personally, a big part of the challenge is staying on call 24/7. Property management companies usually have their staff who acts as a support to your guests and can be contacted anytime.
Is managing an Airbnb a full-time job? ›
Some hosts host full-time, some part-time and some even juggling it around existing work commitments. Plus, perhaps your time changes depending on the seasons.
Should I hire someone to manage my Airbnb? ›
Hiring an Airbnb property manager can be especially valuable for hosts who strive to expand their short-term rental business. To scale your portfolio efficiently and profitably, you need to spend time focused on investment strategy, property acquisition, and the preparations required to bring new properties to market.
What is the success rate of Airbnb? ›
Average Airbnb occupancy rates vary from market to market and year to year. You can see how the national average occupancy rate has fluctuated: Trailing twelve months (TTM), March 2023 to February 2024: 55.1% 2023: 55.4%
What is the average Airbnb lead time? ›
Fluctuating Lead Times
Lead times have fluctuated in recent years, both before and after the COVID-19 pandemic. Most recently, August 2023's average lead time was 30 days and September 2023's average was 29 days. This was a week shorter than August 2022 (37 days) and September 2022 (36 days).
What is the downside of owning an Airbnb? ›
Income May Be Irregular
Airbnb rentals may be far more inconsistent. While in theory, you can rent out a property 365 days a year, you are likely to have many vacant dates on your calendar. You may even prefer to have a vacant day or two between bookings to prepare the property for the next guest.
Why is being an Airbnb host harder? ›
As Airbnb's popularity has increased, so have guests' expectations. The surge in demand has led to high turnover, and many hosts have come to depend on management companies to deal with cleaning and maintenance and have increased their cleaning fees as a result.
How much does the average Airbnb owner make? ›
Airbnb Owner Salary
| Annual Salary | Hourly Wage |
|---|
| Top Earners | $242,000 | $116 |
| 75th Percentile | $125,000 | $60 |
| Average | $86,197 | $41 |
| 25th Percentile | $26,500 | $13 |
The Bottom Line: Success Takes Time. Buying an Airbnb property can be a profitable venture that also earns you the long-term investment of owning a residence. But making it work takes a lot of work, even before you buy it.
On average, hosts in the United States make more than $13,800 per year, according to Airbnb, but those numbers vary. Some hosts buy or lease a number of apartments or homes and rent them out full time. Your earning potential depends on: How much you charge for your space.
What is the highest salary at Airbnb? ›
Highest paying jobs at Airbnb
| Rank | Job Title | Average Salary |
|---|
| 1 | Engineering Manager | $222,933 |
| 2 | Product Lead | $194,270 |
| 3 | Data Engineer | $161,980 |
| 4 | Data Scientist | $153,510 |
9 more rowsThe Bottom Line. Average Airbnb management fees range between 10-15% for half-service and 25-40% for full-service provision. The exact amount depends on the property manager, the location, the services, the property type, the monthly revenue, and the quality of management.
What do Airbnb guests complain about? ›
A Dirty Home Is A Common Airbnb Guest Complaint
This means getting rid of cobwebs on the ceilings, red wine spills on the carpet, rust stains in the sink, etc. Besides, guests expect your rental unit to be as clean as or cleaner than an upscale hotel room.
Is it hard to manage your own Airbnb? ›
Remote Airbnb management doesn't have to be difficult. Many Airbnb hosts already manage their Airbnbs remotely with great returns. You can, too. The key is implementing processes that both exceed guest expectations and make it easy for you to manage Airbnbs from afar.
How long does the Airbnb process take? ›
Hosts have 24 hours to accept or decline your request, but the vast majority reply within 12 hours. Chances are, it'll be even quicker: More than half of all trip requests are accepted within one hour of the Host reading it.
How long should it take to clean an Airbnb? ›
But the cleans average around 4 hours, often going up to 5 for each clean between guests. The cleans do include making beds for next guests, and washing linen after.
Is Airbnb management profitable? ›
In short: absolutely. Looking forward, the vacation rental industry is predicted to grow even more in the upcoming years. Hosting can be a profitable business with proper prep work and an understanding of how to budget your start-up costs.
How hard is it to run an Airbnb? ›
Starting an Airbnb business requires time, effort and investment just like other business ventures. Before becoming an Airbnb host, you'll want to understand the rules and tax implications, thoughtfully design your space and research listings in your area to make sure your pricing is competitive.
